Sylvamo Corp financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Sylvamo Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	4,017	2,385	2,828	3,628	3,721	3,773	3,351
Cost of revenue	2,638	1,929	2,143	2,619	2,809	2,833	2,616
Gross profit	1,379	456	685	1,009	912	940	735
Selling, general and administrative	262	202	207	325	343	311	281
General and administrative	210	169	119
Operating income				553	441	453	251
Interest expense	5	4	32	80	64	57	49
Interest income					4
Pre-tax income	502	95	328	467	369	405	199
Income tax	125	8	101	131	116	103	67
Income from continuing operations		87	227	336	253	302	132
Net income	377	170	331	118	253	302	132
EBITDA				678	584	612	430
EPS, basic	8.55	3.85	7.53	2.68	6.02	7.35	3.29
EPS, diluted	8.55	3.85	7.53	2.66	5.93	7.18	3.24
Shares, basic (weighted)	44	44	44	43.9	42	41.1	40.1
Shares, diluted (weighted)	44	44	44	44.4	42.7	42	40.7
Dividend per share				0.48	1.40	1.65	1.80

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	89	70	159	360	280	205	135
Short-term investments		36	64	80	109	104	63
Receivables		398	391	430	404	402	399
Inventory		342	279	364	404	361	418
Other current assets		37	63	39	54	42	80
Total current assets		1,119	1,108	1,243	1,193	1,063	1,076
Property, plant and equipment		974	764	817	1,002	944	1,047
Lease right-of-use assets		46	40	35	58	58	48
Goodwill	179	133	122	128	139	111	114
Intangible assets		12	9	7	6
Total assets		2,911	2,597	2,710	2,872	2,604	2,763
Accounts payable		284	387	453	421	375	381
Accrued liabilities		68	48	81	63	79	55
Deferred revenue		11	1	0	8	2	3
Short-term debt		0	19	29	28	22	23
Total current liabilities		490	758	728	695	682	716
Long-term debt		22	1,357	1,003	931	782	763
Lease liabilities		32	25	28	46	45	34
Other non-current liabilities		117	118	118	156	141	143
Total liabilities		799	2,415	2,032	1,971	1,757	1,797
Total debt		0	1,500	29	28	22	23
Paid-in capital		0	4	25	48	71	89
Retained earnings		0	1,935	2,029	2,222	2,455	2,514
Treasury stock			0	-82	-158	-234	-330
Other comprehensive income		-1,480	-1,801	-1,338	-1,256	-1,490	-1,353
Shareholders' equity	2,517	2,112	182	678	901	847	966
Total equity	2,517	2,112	182	678	901	847	966
Total liabilities and equity		2,911	2,597	2,710	2,872	2,604	2,763
Shares outstanding			43.9	42.6	41.2	40.6	39.4

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	377	170	331	118	253	302	132
Depreciation and amortization	192	135	126	125	143	159	179
Stock-based compensation	19	15	14	20	23	23	18
Deferred income tax	-7	-49	-6	-7	0	-7	7
Change in inventory	-47	70	12	-99	6	25	-14
Change in payables	-5	-56	196	48	-73	42	-52
Cash from operations	524	359	549	438	504	469	268
Capital expenditures	-118	-66	-69	-149	-210	-221	-224
Acquisitions			0	0	-167	0	0
Cash from investing	-160	-79	127	180	-377	-221	-224
Debt issued	0	0	1,501	75	446	250	229
Debt repaid	-18	-10	-129	-450	-526	-407	-182
Share buybacks		0	0	-80	-70	-69	-82
Dividends paid		0	0	-10	-57	-62	-73
Cash from financing	-387	-350	-589	-470	-219	-310	-125
Exchange rate effect	-17	30	-2	32	12	-13	11
Net change in cash	-40	-19	89	201	-80	-75	-70
Free cash flow	406	293	480	289	294	248	44
Interest paid	2	1	10	63	68	62	49
Income taxes paid					112	98	62

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $35.96 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	20.6%	Gross profit / revenue.
Operating margin	5.3%	Operating income / revenue.
EBITDA margin	10.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.3%	Pre-tax income / revenue.
Net margin	2.3%	Net income / revenue.
FCF margin	-0.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.3%	Cash from operations / revenue.
Effective tax rate	46.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.6%	Net income / average total assets.
Return on invested capital (ROIC)	10.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	8.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.7%	Capital expenditures / revenue.
D&A / revenue	5.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-11.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-21.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-10.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	10.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-44.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-23.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-29.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-14.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-56.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-4.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-54.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	6.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-3.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-42.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-15.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-5.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-82.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-46.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-31.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	9.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	55.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	14.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-14.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-1.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.47x	Current assets / current liabilities.
Quick ratio	0.70x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.25x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.04x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	1.4%	Total debt / total assets.
Liabilities / assets	66.8%	Total liabilities / total assets.
Net debt	-$146.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.41x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.38x	Operating income / interest expense.
Working capital	$355.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	4.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$834.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.15x	Revenue / average total assets.
Fixed asset turnover	3.02x	Revenue / average property, plant and equipment.
Inventory turnover	5.20x	Cost of revenue / average inventory.
Days inventory	70 days	365 x average inventory / cost of revenue.
Receivables turnover	9.64x	Revenue / average receivables.
Days sales outstanding	38 days	365 x average receivables / revenue.
Days payables	59 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	49 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-14.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	105.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.91	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$82.84	Revenue / diluted weighted shares.
FCF per share	-$0.28	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.25	Cash from operations / diluted weighted shares.
Book value per share	$24.00	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$20.95	Tangible book value / shares outstanding.
Cash per share	$4.70	(Cash + short-term investments) / shares outstanding.
Payout ratio	96.1%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.43B	Share price x shares outstanding.
Enterprise value	$1.28B	Market cap + total debt - cash - short-term investments.
P/E	18.8x	Market cap / net income. Only when net income is positive.
P/S	0.43x	Market cap / revenue.
P/B	1.50x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.71x	Market cap / tangible book value, when positive.
P/OCF	6.84x	Market cap / cash from operations, when positive.
EV/Sales	0.39x	Enterprise value / revenue.
EV/EBIT	7.29x	Enterprise value / operating income, when both are positive.
EV/EBITDA	3.63x	Enterprise value / EBITDA, when both are positive.
FCF yield	-0.8%	Free cash flow / market cap.
Earnings yield	5.3%	Net income / market cap (the inverse of P/E).
Dividend yield	5.1%	Dividends paid over the period / market cap.
Shareholder yield	8.0%	(Dividends paid + share buybacks) / market cap.
PEG	2.77x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Sylvamo Corp's revenue in fiscal 2025?

Sylvamo Corp reported revenue of $3.35B for fiscal 2025, 11.2% lower than the year before.

Was Sylvamo Corp profitable in fiscal 2025?

Yes. Net income was $132.0M, a net margin of 3.9%.

How much free cash flow did Sylvamo Corp generate in fiscal 2025?

Cash from operations of $268.0M minus capital expenditures of $224.0M left free cash flow of $44.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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